Information contained in the news release is current as of the date of announcement.
It is subject to change without prior notice.
Nov 20, 2008
Pioneer Corporation
Pioneer to Make Full-fledged Entry into Indian Markets
Establishing a Sales Subsidiary - Pioneer India Electronics
November 20, 2008, Tokyo, Japan - Pioneer Corporation announced today that the company has established a sales subsidiary - Pioneer India Electronics Private Ltd. - in India, and decided to launch into the Indian market in earnest. This market is enjoying strong economic growth and expected to thrive into a huge consumer market.
Pioneer established its Indian representative office at the end of year 2005 and began market research and preparations to establish its local subsidiary. The company has opened a sales subsidiary in the suburbs of Delhi, the city of Gurgaon, and will proactively promote the marketing, sales and after-sales service in the car electronics business in the promising Indian market.
In the home electronics business as well, Pioneer will continue market research to start sales activities according to market demand. By promoting these two major businesses, Pioneer aims to increase the awareness of the Pioneer brand and expand businesses in this growing market.
< Outline of the new company >
| Company name | Pioneer India Electronics Private Ltd. |
| Address | 216, Second Floor, Time Tower, M.G. Road, Sector 28, Gurgaon 122001, Haryana, India |
| Capital | 160 million rupees 99% capitalized by Pioneer Electronics Asiacentre Pte. Ltd. 1% capitalized by Pioneer Electronics (Singapore) Pte. Ltd. |
| Managing Director | Takashi Yoshida |
| No. of employees | Approximately 20 |
| Date of establishment | October 17, 2008 |
| Start of operation | January 2009 (scheduled) |
